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    Explore " startups" with insightful episodes like "Build Your Startup With AI", "Game On: Marc Andreessen & Andrew Chen Talk Creative Computers", "Financial Freedom, Company Building, More with David Marcus", "When Business is Battle: Inside the Boardrooms of the CEOs that Survived the Storm" and "Fintech Fuels Global Payments" from podcasts like ""The Ben & Marc Show", "a16z Podcast", "a16z Podcast", "a16z Podcast" and "a16z Podcast"" and more!

    Episodes (41)

    Build Your Startup With AI

    Build Your Startup With AI

    Welcome back to "The Ben & Marc Show," featuring a16z co-founders Marc Andreessen and Ben Horowitz. In this new episode – the first of two parts – Marc and Ben answer YOUR questions on the “State of AI” as it relates to company building. 

     

    In this one-on-one conversation, Ben and Marc discuss how small AI startups can compete with Big Tech’s massive compute and data scale advantages, unpack the reasons why data is overrated as a sellable asset, and uncover all the ways the AI boom compares to the internet boom. That and much more. Enjoy!

     

    *Watch the FULL EPISODE on YouTube:  https://youtu.be/XyrBJ0gk-is

     

    Connect with Ben & Marc: 

    Marc on X: https://twitter.com/pmarca 

    Marc’s Substack: https://pmarca.substack.com/ 

    Ben on X: https://twitter.com/bhorowitz 

     

    Stay Updated: 

    Find us on X: https://twitter.com/a16z 

    Find us on LinkedIn: https://www.linkedin.com/company/a16z 

     

    The views expressed here are those of the individual personnel quoted and are not the views of a16z or its affiliates. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors and may not under any circumstances be relied upon when making a decision to invest in any a16z funds. PLEASE SEE MORE HERE: https://a16z.com/disclosures/

     

     

    Game On: Marc Andreessen & Andrew Chen Talk Creative Computers

    Game On: Marc Andreessen & Andrew Chen Talk Creative Computers

    The gaming industry stands as a pioneer of cutting-edge technologies, ushering in innovations like GPUs, virtual and augmented reality, physics engines, and immersive multiplayer experiences. 

    In this episode, a16z cofounder Marc Andreessen and Andrew Chen, General Partner at a16z Games, dig into why a16z was compelled to establish a dedicated games fund. They explore the origins of tech pessimism, effective engagement with government in tech, its significance for the gaming community, the ongoing AI revolution, and even what Marc himself would build today if he didn't have his hands full. 

    Recorded as part of a16z's extensive games fund accelerator, SPEEDRUN, this session offers valuable insights for founders and innovators at the intersection of games and technology. 

    If you're passionate about shaping the future of gaming, consider applying for SPEEDRUN 3.0 at a16z.com/speedrun3.

     

    Resources: 

    FInd Marc on Twitter: https://twitter.com/pmarca

    Find Andrew on Twitter: https://twitter.com/andrewchen

    Submit your SPEEDRUN 3.0 application: https://a16z.com/speedrun-la-2024

     

    Stay Updated: 

    Find a16z on Twitter: https://twitter.com/a16z

    Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

    Subscribe on your favorite podcast app: https://a16z.simplecast.com/

    Follow our host: https://twitter.com/stephsmithio

    Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

    Financial Freedom, Company Building, More with David Marcus

    Financial Freedom, Company Building, More with David Marcus

    with @davidmarcus @smc90

    This wide-ranging conversation covers company building, big to small -- including what cadence and when is the right "time" to ship; the relationship between centralization, decentralization, platforms, and financial freedom; moving from web2 to web3 in both crypto AND payments... as well as why bitcoin, views on remote work, and much much more. 

    Our guest is David Marcus, CEO and co-founder of Lightspark; Marcus was also a co-creator of Diem (aka Libra and Novi, the cryptocurrency project initiated by Facebook). Before that, he was vice president of messaging products there, where he ran the Facebook Messenger unit; and prior to joining Facebook, Marcus was the former president of PayPal (which had acquired his previous startup).  

    This episode begins with an interview just to help kick things off and then features a rich set of questions from the audience -- as this originally took place live on stage at our Crypto Startup School 2023. 

    As a reminder: none of this should be taken as investment, legal, business, or tax advice; please see a16z.com/disclosures for more important information -- including a link to a list of our investments.

    related readings:

     

    Subscribe to web3 with a16z: https://link.chtbl.com/web3witha16z

     

    Stay Updated: 

    Find a16z on Twitter: https://twitter.com/a16z

    Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

    Subscribe on your favorite podcast app: https://a16z.simplecast.com/

    Follow our host: https://twitter.com/stephsmithio

    Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

     

    When Business is Battle: Inside the Boardrooms of the CEOs that Survived the Storm

    When Business is Battle: Inside the Boardrooms of the CEOs that Survived the Storm

    Taking a company from idea to household name is always difficult. But the past few years presented challenges that caught even the most-seasoned CEOs off guard.

    In this episode, you’ll hear from two CEOs that navigated these waters and somehow, came out on the other side. These recordings come straight from our exclusive Connect/Enterprise event, bringing together top executives across the a16z network.

     

    Resources:

    Additional content from Connect/Enteprise:

    Learn more about company-building: https://a16z.com/category/company-building/

     

    Stay Updated: 

    Find a16z on Twitter: https://twitter.com/a16z

    Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

    Subscribe on your favorite podcast app: https://a16z.simplecast.com/

    Follow our host: https://twitter.com/stephsmithio

    Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

    Fintech Fuels Global Payments

    Fintech Fuels Global Payments

    Software crosses borders effortlessly. The globalization of money, however, is considerably more challenging. This is especially true for multinational businesses, which grapple with managing multiple accounts in diverse currencies, navigating costly foreign exchange rates, and unpredictable money transfers.

    As businesses increasingly embrace a global default, top fintech entrepreneurs are rising to the challenge, addressing cross-border infrastructure issues and offering comprehensive solutions.

    In this episode, a16z partners Angela Strange, Joe Schmidt, and Gabriel Vasquez discuss the challenges of cross-border payment infrastructures and what fintech entrepreneurs are doing to create a more integrated, financially inclusive world.

    Topics Covered:

    00:00 - Software crosses borders easily; money does not. 

    03:02 - Why has global payments been a challenge for so long? 

    05:44 - How global payments and money currently moves

    07:25 - The metrics used to measure a country's financial health

    12:13 - The impact of regulation on financial services

    16:23 - Can the same regulations be applied to any country? 

    21:29 - Why each country has its own fintech system

    24:54 - Opportunities in global payments infrastructure

    34:47 - Advice for founders navigating global fintech systems

    36:58 - What does a truly global system enable? 

    Read the Fintech Fuels Global Payments package: https://a16z.com/global-payments

    Watch ​​’Foreign Exchange 101: What Happens When You Send Money Abroad?’: https://youtu.be/eoXdyO9oGJc?feature=shared

    Find Angela on Twitter: https://twitter.com/astrange

    Find Joe Schmidt on Twitter: https://twitter.com/joeschmidtiv

    FInd Gabriel Vasquez on Twitter: https://twitter.com/GEVS94

    Stay Updated: 

    Find a16z on Twitter: https://twitter.com/a16z

    Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

    Subscribe on your favorite podcast app: https://a16z.simplecast.com/

    Follow our host: https://twitter.com/stephsmithio

    Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

    Is a Fun, Therapeutic Game Possible?

    Is a Fun, Therapeutic Game Possible?

    In this special episode from a16z’s Bio Eats World podcast, general partners Vijay Pande and Jon Lai join bio editorial lead Olivia Webb to discuss the intersection of games and health, including:  what constitutes a game, the “healthy dessert” problem, and the challenge of building a game that’s both fun and therapeutic.

    You can subscribe to Bio Eats World wherever you get your podcasts. 

    Spotlight — How might a long-term stock market transform tech?

    Spotlight — How might a long-term stock market transform tech?

    At Center for Humane Technology, we often talk about multipolar traps — which arise when individuals have an incentive to act in ways that are beneficial to them in the short term, but detrimental to the group in the long term. Think of social media companies that compete for our attention, so that when TikTok introduces an even-more addictive feature, Facebook and Twitter have to mimic it in order to keep up, sending us all on a race to the bottom of our brainstems.

    Intervening at the level of multipolar traps has extraordinary leverage. One such intervention is the Long Term Stock Exchange — a U.S. national securities exchange serving companies and investors who share a long-term vision. Instead of asking public companies to pollute less or be less addictive while holding them accountable to short-term shareholder value, the Long-Term Stock Exchange creates a new playing field, which incentivizes the creation of long-term stakeholder value.

    This week on Your Undivided Attention, we’re airing an episode of a podcast called ZigZag — a fellow member of the TED Audio Collective. In an exploration of how technology companies might transcend multipolar traps, we're sharing with you ZigZag’s conversation with Long Term Stock Exchange founder Eric Ries.

    CORRECTION: In the episode, we say that TikTok has outcompeted Facebook, Instagram, and YouTube. In fact, TikTok has outcompeted Facebook, but not yet YouTube or Instagram — TikTok has 1 billion monthly users, while YouTube has 2.6 billion and Instagram has 2 billion. However, we can say that TikTok is on a path toward outcompeting YouTube and Instagram.

    RECOMMENDED YUA EPISODES

    An Alternative to Silicon Valley Unicorns with Mara Zepeda & Kate “Sassy” Sassoon: https://www.humanetech.com/podcast/54-an-alternative-to-silicon-valley-unicorns

    A Problem Well-Stated Is Half-Solved with Daniel Schmachtenberger: https://www.humanetech.com/podcast/a-problem-well-stated-is-half-solved

    Here’s Our Plan And We Don’t Know with Tristan Harris, Aza Raskin, and Stephanie Lepp: https://www.humanetech.com/podcast/46-heres-our-plan-and-we-dont-know

    From Research to Startup, There and Back Again

    From Research to Startup, There and Back Again

    In this episode from December 2018, Hennessy, currently the chairman of Alphabet as well as Turing Award-winning computer scientist, joins a16z co-founder Marc Andreessen, a16z general partner Martin Casado, and host Sonal Choksi for a wide-ranging conversation about moving from academia to startups, the history of Silicon Valley, the “Stanford model”, how to build enduring organizations, and more.

    Hennessy also co-founded startups, including one based on pioneering microprocessor architecture used in 99% of devices today (for which he and his collaborator won the prestigious Turing Award)... so what did it take to go from research/idea to industry/implementation? And  how has the overall relationship and "divide" between academia and industry shifted, especially as the tech industry itself has changed? Finally, in his book, Leading Matters, Hennessy shares some of the leadership principles he's learned, offering nuanced takes on topics like humility (needs ambition), empathy (without contravening fairness and reason), and others. What does it take to build not just tech, but a successful organization?

    Crisis Communications 101

    Crisis Communications 101

    In this hallway-style conversation with a16z's Margit Wennmachers, longtime operating partner for Marketing, and Kim Milosevich, CMO for a16z crypto, open up the black box of crisis communications with Sonal Choksi and explore the process and mindsets before, during, and after a crisis.

    They discuss common FAQs like: What constitutes a crisis? Can someone inside a company "call it" early and prevent a crisis from becoming a bigger deal? How do you respond when there's a lag or too much time between acknowledging the issue and finding out all the facts? Who should be in the (war) room ? Should you share the off-the-record background story with reporters? How do you know when a crisis begins and ends -- or that you're ready for a "comeback" story? We explore all this and more.

    An Alternative to Silicon Valley Unicorns

    An Alternative to Silicon Valley Unicorns

    Why isn't Twitter doing more to get bots off their platform? Why isn’t Uber taking better care of its drivers? 

    What if...they can't?

    Venture-capital backed companies like Twitter and Uber are held accountable to maximizing returns to investors. If and when they become public companies, they become accountable to maximizing returns to shareholders. They’ve promised Wall Street outsized returns — which means Twitter can't lose bots if it would significantly lower their user count and in turn lower advertising revenue, and Uber can’t treat their drivers like employees if it competes with profits.

    But what's the alternative? What might it look like to design an ownership and governance model that incentivizes a technology company to serve all of its stakeholders over the long term – and primarily, the stakeholders who create value?

    This week on Your Undivided Attention, we're talking with two experts on creating the conditions for humane business, and in turn, for humane technology: Mara Zepeda and Kate “Sassy” Sassoon of Zebras Unite Co-Op. Zebras Unite is a member-owned co-operative that’s creating the capital, culture, and community to power a more just and inclusive economy. The Zebras Unite Coop serves a community of over 6,000 members, in about 30 chapters, over 6 continents. Mara is their Managing Director, and Kate is their Director of Cooperative Membership.

    Two corrections:

    • The episode says that the failure rate of startups is 99%. The actual rate is closer to 90%.
    • The episode says that in 2017, Twitter reported 350 million users on its platform. The actual number reported was 319 million users.

    RECOMMENDED MEDIA 

    Zebras Fix What Unicorns Break

    A seminal 2017 article by Zebras Unite co-founders, which kicked off the movement and distinguished between zebras and unicorns — per the table below.

    Meetup to the People 

    Zebras Unite’s 2019 thought experiment of exiting Meetup to community

    Zebras Unite Crowdcast Channel

    Where you can find upcoming online events, as well as recordings of previous events.

    RECOMMENDED YUA EPISODES 

    A Renegade Solution to Extractive Economics with Kate Raworth: https://www.humanetech.com/podcast/29-a-renegade-solution-to-extractive-economics

    Bonus — A Bigger Picture on Elon & Twitter: https://www.humanetech.com/podcast/bigger-picture-elon-twitter  

    Here’s Our Plan And We Don’t Know with Tristan Harris, Aza Raskin, and Stephanie Lepp: https://www.humanetech.com/podcast/46-heres-our-plan-and-we-dont-know

    Your Undivided Attention is produced by the Center for Humane Technology. Follow us on Twitter: @HumaneTech_

    The Basics of Growth Marketing: User Acquisition

    The Basics of Growth Marketing: User Acquisition

    Once known as “growth hacking”, the concept of Growth has now evolved into an entire discipline that spans marketing, product management, user experience, and more. Why? After achieving product-market fit, startups need to capitalize quickly on that initial traction to capture and retain more users and market share before the competition does, and building an efficient and resilient growth strategy is a critical component.

    This episode -- one of two in a series -- focuses on the user acquisition aspect of growth. Featuring a16z general partners Andrew Chen (formerly of Uber and author of the book, The Cold Start Problem) and Jeff Jordan (formerly of OpenTable, eBay, Disney, and more), in conversation with Sonal Chokshi, the discussion also covers the nuances of paid vs. organic marketing (and the perils of blended CAC); the role of network effects; where does customer lifetime value (LTV) come in; and much more. Because at the end of the day, businesses don't grow themselves. 

    #190 Henry Ford and Thomas Edison

    #190 Henry Ford and Thomas Edison

    What I learned from reading The Vagabonds: The Story of Henry Ford and Thomas Edison's Ten-Year Road Trip by Jeff Guinn. 

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    Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes

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    Ford generally accepted the responsibilities of his celebrity-he'd worked diligently to cultivate it, realizing early on that his personal fame heightened demand for Model Ts.

    Ford's Model T changed everything. Thanks in great part to Ford's innovative assembly line, Model Ts were mass-produced on a previously unimaginable scale. In competitors factories, it took workers several hours to assemble an individual car. At the Ford plant, a completed Model T rolled off the line every two and a half minutes.

    Ford continued tinkering with the manufacturing process, aggressively seeking ways to cut production expenses and Model T prices even more. The best example fostered a popular joke that you could buy any color Model T that you liked, so long as the color was black. Few realized that Ford insisted the cars come in that color because black paint dried quickest, meaning Model Ts could be whipped through the assembly line and off to dealerships at an even faster pace, saving additional time and labor related dollars.

    The Model T alone would have established Henry Ford as a household name, but he'd further cemented his reputation as a friend of the working man with a stunning announcement. In an era when factory line workers were lucky to earn $2 a day for their labor and toiled through ten-hour shifts six days a week, Ford pledged to pay $5 a day, and to reduce workdays to eight hours. Everyone in America was talking about it.

    Over the years, as Ford founded and failed with two auto manufacturing companies before succeeding with his third, he endlessly reminisced about the meeting and Edison's words of encouragement: “Young man, that's the thing. You have it. Keep at it.”

    Ford was a cannier businessman than his hero, much wealthier.

    They found themselves in complete agreement about the evils of Wall Street and the crass men there who cared only for profit and not for the public. Both were poor boys who made good. Neither had a college degree, and both were disdainful of those who believed classroom education was superior to hands-on work experience and common sense.

    Like Edison, Ford didn't have many friends. Ford was a prickly man and also a complicated one, burning to make the world better for humanity as a whole while not enjoying personal contact with most individuals.

    Ford never doubted his own beliefs and decisions, forbidding disagreement from employees and ignoring any from outsiders. Ford's hobby was work. He devoted almost every waking minute to it.

    When he and the inventor quickly became the closest of friends, Ford felt energized again, thanks in great part to Edison's inspiration.

    For all of Ford's professional life he'd had to overcome skepticism from other successful men. He had always been the outsider, the one with the crazy ideas and clumsy social graces. Edison sympathized, because in his earliest years of prominence he was criticized for some of the same traits. The inventor not only accepted Ford for the rough-edged man that he was, he recognized in him the fine qualities that offset the carmaker's obvious flaws.

    Henry Ford was always a man of strong opinions, and one who absolutely trusted his own instincts. He especially disdained anyone identified as an expert: "If ever I wanted to kill opposition by unfair means, I would endow the opposition with experts. No one ever considers himself an expert if he really knows his job."

    When prominent, better educated men and their hired experts insisted that the future of the automobile market was limited to manufacturing expensive cars for the wealthy, Ford believed that the real potential lay in sales of a modest but dependable vehicle to the growing American middle class; there would be less profit in individual transactions, but the sheer number of sales would yield greater cumulative returns. With the Model T, Ford was proved right, and he reveled in it.

    Their main goal was to have a good time. But few business magnates in America had a shrewder understanding of marketing than Edison, Ford, and Firestone. If rank-and-file consumers liked what they saw and read about, as they surely would, then sales of cars and light bulbs and phonographs and tires would directly benefit, too.

    Ford shocked America by resigning as company president. He was going to start an entirely new automobile manufacturing enterprise. Ford Motor Company stockholders assumed the threat was real, and within weeks agreed to sell Ford their shares at a whopping $12,500 a share. (James Couzens, who knew Ford best, held out and received $13,000 for each of his.) Though Ford had to borrow $60 million of the near $106 million total cost, he was still glad to do it. It had been an elaborate bluff, but he was now in complete control of Ford Motor Company.

    Ford received thousands of letters with the general message that if he were an anarchist, then America needed more of them. Ford was the son of a Michigan farmer, and like  most rural Americans of the time his formal education was limited to a few years in local schools and teachers who themselves had often not graduated high school. Then he had to leave school to make a living. Like Ford, many of his countrymen read only with difficulty, if at all. Their understanding of American history was limited. They, too, might not remember the exact date of the American Revolution, but they knew that Henry Ford introduced the $5 workday and a car that ordinary people could afford. They identified with Ford so strongly that newspaper attacks on him were taken as insults directed at them.

    They were shocked to receive shipments of Model Ts that they hadn't ordered. The edict on these cars was the same-Ford Motor Company must be paid for them. Refusal would terminate the dealer-company relationship. If they refused to accept these additional Model Ts and were fired by Ford, they could be ruined. Or, as the parent company suggested, they could accept the cars, if necessary get loans from their own banks to pay Ford for them, and then aggressively keep trying to sell Model Ts and hang on until the national economic crisis was over. The dealers had little choice but to accept. That provided Ford with enough money to meet his immediate corporate debts-the dealers had to risk wrath from their banks instead.

    She never complained when Ford spent most of his off-the-job hours trying to build a combustion engine in their kitchen. Clara encouraged Ford to pursue his dream of creating "a car for the great multitudes," remaining supportive when his first two companies failed, encouraging  him during the difficult first years of Ford Motor Company, his third.

    Ford fixated on even the smallest details.

    Patience was never Ford's strength.

    Ford had no interest in laurel-resting.

    Ford’s cars were built to last. Never flashy, in every way efficient, always dependable, much like the man whose company assembled them. And, just as Ford never saw any reason to change himself, he felt no pressure to change the Model T.

    Ford's stubbornness gave competitors the opening they needed. When Alfred Sloan took over General Motors in 1923, the new boss emphasized a marketing plan based on Americans wanting not just transportation, but selection. Enough people now owned cars so that ownership itself was no longer special. What was going to matter soon was driving a car that reflected the personality, the specialness, of the individual owner.

    As individuals, Edison, Ford, and Firestone created the means for the "great multitudes" to enjoy leisure entertainment far beyond what was previously imagined. As the Vagabonds, their summer car and camping trips exemplified what they had helped make possible: See what we're doing? You çan do it, too. By their example, the Vagabonds encouraged countless ordinary Americans to pursue their own dreams.

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    Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes

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    I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth

    Be like Gareth. Buy a book: All the books featured on Founders Podcast

    #189 David Ogilvy (The book I've given as a gift the most)

    #189 David Ogilvy (The book I've given as a gift the most)

    What I learned from reading The Unpublished David Ogilvy by David Ogilvy. 

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    Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes

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    [0:01] Will Any Agency Hire This Man? He is 38, and unemployed. He dropped out of college.

    He has been a cook, a salesman, a diplomatist and a farmer. He knows nothing about marketing, and has never written any copy. He professes to be interested in advertising as a career (at the age of 38!) and is ready to go to work for $5,000 a year.

    I doubt if any American agency will hire him.

    However, a London agency did hire him. Three years later he became the most famous copywriter in the world, and in due course built the tenth biggest agency in the world.

    The moral: it sometimes pays an agency to be imaginative and unorthodox in hiring.

    [2:39] Words were what made him. Reading this collection, one is struck, piece after piece by how David's words surprise and seduce, tease and provoke.

    [2:58] His writing is opinionated, forceful, and urgent.

    [4:24] David was building his first-class business in a first-class way.

    [5:37] Every advertisement must tell the whole sales story.

    [5:41] The copy must be human and very simple.Every word in the copy must count. Concrete figures must be substituted for atmospheric claims; clichés must give way to facts, and empty exhortations to alluring offers.

    [6:08] Permanent success has rarely been built on frivolity. People do not buy from clowns.

    [7:38] The worst fault a salesman can commit is to be a bore.

    [11:49] I have a new metaphor. Great hospitals do two things: They look after patients, and they teach young doctors. Ogilvy & Mather does two things: We look after clients, and we teach young advertising people. Ogilvy & Mather is the teaching hospital of the advertising world. And, as such, to be respected above all other agencies.

    [12:44] I plead for charm, flair, showmanship, taste, distinction.

    [16:42] Dear Ray: Nineteen years ago you wrote me the best job application letter I have ever received. I can still recite the first paragraph. The first paragraph read: "My father was in charge of the men's lavatory at the Ritz Hotel. My mother was a chambermaid at the same hotel. I was educated at the London School of Economics.

    [18:04] I find extravagance esthetically repulsive. I find the New England Puritan tradition more attractive. And more profitable.

    [21:14] So the time had come to give the pendulum a push in the other direction. If that push has puzzled you, caught you on the wrong foot and confused you, I can only quote Ralph Waldo Emerson: "A foolish consistency is the hobgoblin of little minds... Speak what you think today in words  as hard as cannonballs, and tomorrow speak what tomorrow thinks in hard words again, though it contradict everything you said today."

    [22:01] I prefer a posture of confident authority.

    [22:19] You have a first-class mind. Stretch it.

    [22:38] David on how he lasted so long: 

    1. I have outlived all my competitors. 

    2. My obsessive interest in advertising has not dimmed. 

    3. My younger partners have tolerated my presence in their midst. 

    4. I had the wisdom to give them a free run. As a result, Ogilvy & Mather has outgrown its founder.

    [27:02] An account manager wrote to David wondering what he considered his worst shortcomings. The reply:

    I am intolerant of mediocrity – and laziness.

    I fritter away too much time on things which aren't important.

    Like everyone of my age, I talk too much about the past.

    I have always funked firing people who needed to be fired.

    I am afraid of flying and go to ridiculous lengths to avoid it.

    When I was Creative Head in New York, I wrote too much of the advertising myself.

    I know nothing about finance.

    I change my mind – about advertising and about people.

    I am candid to the point of indiscretion.

    I see too many sides to every argument.

    I am over-impressed by physical beauty.

    I have a low threshold of boredom.

    [28:09] Somebody recently asked me for a list of the most useful books on advertising – the books that all our people should read. Here is what I sent her: 

    Scientific Advertising by Claude Hopkins. 

    Tested Advertising Methods by John Caples. 

    Confessions of an Advertising Man by David Ogilvy.

    How to Advertise by Kenneth Roman and Jane Maas. 

    Reality in Advertising by Rosser Reeves.

    The Art of Writing Advertising : Conversations with Masters of the Craft: David Ogilvy, William Bernbach, Leo Burnett, Rosser Reeves by Denis Higgins.

    The 100 Best Advertisements by Julian Watkins.

    [29:26] Don't be dull bores. We can't save souls in an empty church.

    [31:28] What guts it takes, what obstinate determination, to stick to one coherent creative policy, year after year, in the face of all the pressures to "come up with something new" every six months.

    [31:57] The manufacturer who dedicates his advertising to building the most favourable image, the most sharply defined personality, is the one who will get the largest share of the market at the highest profit – in the long run.

    [32:05] We try to create sharply defined personalities for our brands. And we stick to those personalities, year after year.

    [32:58] Set exorbitant standards, and give your people hell when they don't live up tọ them. There is nothing so demoralizing as a boss who tolerates second-rate work.

    [33:57] For Pete's sake write shorter memos. Cut your wordage in half.

    [34:12] How does the OBM of 1962 compare with the agency I dreamed of in 1948? To tell you the truth, it looks a million times better than I ever dreamed it could look. I just cannot believe what a good agency this has grown to be. I am terribly proud, and terribly grateful.

    [35:07] David is often astonished by working habits that differ from his own. Once, discussing a copywriter at another agency whom he admired in some respects, he said: "Listen to this - every day at precisely five o'clock that man gets up from his desk, puts on his hat and his coat, and goes home." Long pause to let it sink in. Then, leaning forward for emphasis: "Think of the extraordinary self-discipline that requires!"

    [36:49] My old friend advised you to avoid excess in all things. Mr. Ashcroft used to say the same thing – avoid excess in all things. That is a recipe for dullness and mediocrity.

    [38:09] I will begin with an old-fashioned affirmation in the supreme value of hard work. I believe in the Scottish proverb: “Hard work never killed a man." Men die of boredom, psychological conflict and disease. They never die of hard work.

    [38:36] On the other hand, I believe in lots of vacations. Sabbaticals recharge batteries.

    [39:18] Are we freewheeling entrepreneurs, ready to take risks in new ventures? Or are we too frightened of making mistakes? When the toy-buyer at Sears made a mistake which cost his company 10 million bucks, I asked the head of Sears, “Are you going to fire him?" “Hell no," he replied, “I fire people who don't make mistakes."

    [41:06] It is the duty of our top people to sustain unremitting pressure on the professional standards of their staffs. They must not tolerate sloppy plans or mediocre creative work. 

    [41:30] If you ever find a man who is better than you are– hire him. If necessary, pay him more than you pay yourself.

    [41:56] Five characteristics for rapid promotion

    He is ambitious.

    He works harder than his peers – and enjoys it. 

    He has a brilliant brain – inventive and unorthodox.

    He has an engaging personality.

    He demonstrates respect for the creative function.
     

    [42:56] The line between pride in our work and neurotic obstinacy is a narrow one.

    [43:07] We have a habit of divine discontent with our performance. It is an antidote to smugness.

    [43:50] Raise your sights! Blaze new trails! Compete with the immortals!

    [48:13] Great leaders almost seem to exude self-confidence.

    [49:13] Great industrial leaders are always fanatically committed to their jobs. They are not lazy, or amateurs.

    [52:00] What would you have done differently if you could do it all over? I wouldn't have made so damn many mistakes, and most notably, I would not have sold so many of my Ogilvy & Mather shares.I was scared. We were being fantastically successful. I kept saying to myself: easy come, easy go. This thing could go up in smoke at any moment. I was frightened and I wanted to get the money out and put it into something safe.

    [53:22] Did you ever think the agency was going to fail? Yes. Every day for years I thought it was going to fail. I was always scared sick-always a terrible worrywart when I was in my heyday at the agency. I remember saying one day: If this is success, God deliver me from failure.

    [53:47] Personal dislike made me resign many accounts. I didn't like having to deal with the sonofabitch. Why should I? We pass this way only once.

    [54:02] Anything you've always wanted that eluded you? A big family. Ten children.

    [54:10] Retiring can be fatal.

    [56:04] I was talking at my old school not long ago in Scotland and I gave them a little sermon on the subject of success. They should stop thinking about success entirely in terms of material achievements and careers and all that stuff and think of success in terms of their own happiness and the happiness of their family.

    [56:45] I had to make my own bed. I was a very, very good salesman. And that's an important thing to be.

    [58:22] I had a short period in my life, I think maybe ten years, when I was pretty close to being a genius and I can look back on that with interested curiosity and affection and some nostalgia. Then it ran out. But I was.

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    I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ”

    — Gareth

    Be like Gareth. Buy a book: All the books featured on Founders Podcast

    a16z Bio + Health #12: Talking Price Transparency and Patient Engagement with Florian Otto

    a16z Bio + Health #12: Talking Price Transparency and Patient Engagement with Florian Otto
    On this episode of the a16z Bio Clubhouse Show, a16z general partners Julie Yoo and Jorge Conde, managing partner Scott Kupor, and market development partner Venkat Mocherla talk to guest Florian Otto, cofounder and CEO of Cedar. The conversation covers how to improve two of the trickiest aspect of healthcare: price transparency and patient engagement.

    a16z Bio + Health #10: The Digital Health Difference with Connie Chen

    a16z Bio + Health #10: The Digital Health Difference with Connie Chen
    On this episode of the a16z Bio Clubhouse Show, a16z general partners Vineeta Agarwala, Julie Yoo, and Jorge Conde talk to guest Connie Chen, Chief Medical Officer at Lyra health. The conversation covers what makes digital health different from traditional healthcare delivery, how to build a sustainable business model while maintaining high standards for care, and advice for founders of digital health startups.

    #174 Bill Gates (Overdrive)

    #174 Bill Gates (Overdrive)

    What I learned from reading Overdrive: Bill Gates and the Race to Control Cyberspace by James Wallace.

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    There would be an industry breakthrough unimagined at the time, and it would be made by a company that didn’t yet exist. [7:55]

    Another corollary to Joys Law of Innovation was that the number of bright people in any company went down as the size went up. [10:47]

    As Apple founder Steve Jobs liked to say: When you are at simplicity, there ain’t no complexity. [12:49]

    Gates looks at everything as something that should be his. He acts in any way he can to make it his. It can be an idea, market share, or a contract. There is not an ounce of conscientiousness or compassion in him. The notion of fairness means nothing to him. The only thing he understands is leverage. [17:21]

    I became convinced that Microsoft was building the last minicomputer. That the Microsoft Network was based on the notion that your competitors were the model — proprietary online services like America Online — and that the reality was that the Internet was going to be such a fundamental paradigm shift, that you needed to think about your strategies fundamentally differently. [28:08]

    The single most powerful pattern I have noticed is that successful people find value in unexpected places, and they do this by thinking about business from first principles instead of formulas. — Zero to One [29:25]

    Most college kids knew much more than we did because they were exposed to it. If I had wanted to connect to the Internet, it would have been easier for me to get into my car and drive over to the University of Washington than to try and get on the Internet at Microsoft. [31:12]

    For years , Gates had Kahn in his sights. Kahn recalled that he once had found Gates at an industry conference in the late 1980s sitting alone in a corner, looking at a photograph in his hands. “It was a picture of me,” said Kahn. [41:16]

    It’s not in Microsoft’s bones to cooperate with other companies. [42:47]

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    ----

    I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth

    Be like Gareth. Buy a book: All the books featured on Founders Podcast

    Scaling Marketplace Startups with the CEOs of GOAT, Cameo, Faire, StyleSeat, Neighbor, Whatnot, & more

    Scaling Marketplace Startups with the CEOs of GOAT, Cameo, Faire, StyleSeat, Neighbor, Whatnot, & more

    The CEOs of GOAT, StyleSeat, Cameo, Faire, Whatnot, and Neighbor join a16z partners Andrew Chen, Connie Chan, D'Arcy Coolican, Jeff Jordan, Katie Baynes, and Anne Lee Skates to talk about the cold start problem,  2020 metrics, growth, and the tricky business of scaling a marketplace company.

    See more marketplace analysis, including a ranking of the 100 largest marketplace startups & private companies, in the Marketplace 100.

    Return to Work, Celebrity Investors, Institutional Distrust and More on One on One with A and Z

    Return to Work, Celebrity Investors, Institutional Distrust and More on One on One with A and Z

    a16z cofounders Marc Andreessen and Ben Horowitz talk  tech trends, company building, and more live on Clubhouse every Monday, 7pm PT. 

    In this conversation:

    • What does return to work look like for a16z portfolio companies (including exclusive survey data)
    • How the re-distribution of the workforce might affect rural America
    • The potential for social networks to replace networking in cities 
    • Generalists vs specialists in a startup
    • How to think about celebrity investors and executives (like Prince Harry)
    • The growing distrust of institutions in America
    • The technology that could still be with us in 500 years
    • Books of the week! Marc on "Medici Money" by Tim Parks and Ben on "Lenin" by Victor Sebestyen

    The Next Wave of Marketplace Startups

    The Next Wave of Marketplace Startups

    In the tech world, marketplaces are a hot topic. That term—marketplace—encompasses a huge swath of services we use every day, from grocery delivery to online shopping to remote learning. How have marketplace dynamics changed since pre-pandemic, and what COVID-propelled consumer behaviors will persist into 2021 and beyond?  

    In this episode, we discuss the most promising marketplace companies and categories on the rise, based on data from the Marketplace 100, a ranking of the largest and fastest-growing consumer-facing marketplace startups and private companies.

    The report provides rich fodder for looking ahead at the future of marketplaces: Which companies are on a tear and which are locked in close competition? Which marketplace categories are poised for growth, and which may make a comeback? Host Lauren Murrow is joined by a16z consumer team partners Connie Chan, D’Arcy Coolican, Jeff Jordan, and Sriram Krishnan.

     

    Suneel Gupta (Part 2) - The Importance of Storytelling and Your Collaborator, Coach, Cheerleader, and Critic

    Suneel Gupta (Part 2) - The Importance of Storytelling and Your Collaborator, Coach, Cheerleader, and Critic
    This is part 2 of my interview with Suneel Gupta. I absolutely loved this conversation and I  have no doubt it will be useful for you. Suneel is an amazing and genuine human being with pure gold to offer.

    Suneel is the founder of RISE and faculty member at Harvard University. Using the seven steps inside his latest book, Backable - which teaches that the “It-factor” is learnable and needed to convince others to back you - Suneel went from being 'the face of failure' for the New York Times to being the “New Face of Innovation” for the New York Stock Exchange. His ideas have been backed by firms like Greylock and Google Ventures, and he has invested in startups including Airbnb, Calm, and SpaceX. Suneel also serves as an emissary for Gross National Happiness between the United States and the Kingdom of Bhutan.

    Listen as we discuss:

    • The importance of one central character in storytelling to become backable
    • The advice Tim Ferriss gave Suneel on his business pitch
    • Every deal is closed on emotion, not numbers.
    • Neutralize the negative and emphasize the inevitably of the idea
    • "Give me something that I can't easily find on Google", a hidden insight, an earned secret
    • Practice does indeed make perfect, and you can still pitch naturally with tons of it.
    • The 4 C's of Becoming Backable
    • Ask not what is good for the world but what makes you come alive.

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    Connect with Suneel Gupta on Instagram @suneelgupta, Facebook @suneelgupta, Twitter @suneel, and his website, backable.com

    Don't forget to subscribe to Slo Mo for new episodes every Sunday and Thursday. Only with your help can we reach One Billion Happy #onebillionhappy.

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    Don't forget to subscribe to Slo Mo for new episodes every Saturday. Only with your help can we reach One Billion Happy #onebillionhappy